Premier Doug Ford has announced that the government will give every Ontario taxpayer a $200 rebate starting in early 2025. The rebate will help offset the cost of living increase.
Premier Doug Ford made the announcement at a press conference in Toronto on Oct. 29. He said the money will help Ontarians cope with the cost of living, inflation and the federal carbon tax. Here are some things you need to know about the rebate.
Ontarians who are 18 years of age or older by the end of 2023 and have filed income tax and benefit returns by the end of December of that year will be eligible for the rebate. However, they cannot be bankrupt or in prison. Unlike other tax benefits, the rebate will not be subject to any means test. This means that millionaires and even billionaires will receive the cheque.
At the press conference, Ford defended his decision to distribute the benefit to all Ontarians, including high-income earners. “These tax dollars will be returned to taxpayers,” he said. “We’re going to give every Ontarian this money back and if they have a child, they’ll get an extra $200. Because the cost of living is so high right now.”
Those who qualify for this rebate will get an extra $200 if they have a child under the age of 18. This money will automatically go to those who are currently receiving the Canada Child Benefit (CCB) for their children.
The Ford government says 12.5 million Ontarians are estimated to receive this benefit. At the same time, about 2.5 million parents or legal guardians of children will also receive this benefit. The benefit will be distributed to every eligible taxpayer, regardless of citizenship.
When asked whether permanent residents and those living in Ontario with work permits will also be eligible for this benefit, Ford said that if they paid taxes in 2023, they will get a rebate cheque. Everyone who pays taxes will be eligible for this benefit.
The Ford government will send rebate checks to eligible taxpayers in early 2025. No application will be required to receive the rebate. The government will spend an estimated $3 billion to provide the rebate.
